BitFuFu Inc. (NASDAQ:FUFU) Q4 2024 Earnings Conference Call March 25, 2025 8:00 AM ET Company Participants Charley Brady - Vice President, Investor Relations. Lu Leo - Chairman and CEO Calla Zhao - Chief Financial Officer Conference Call Participants Operator Good day and thank you for standing by. Welcome to BitFuFu’s Full Year 2024 Earnings Conference Call. All participants are in a listen only mode. Please be advised today’s conference is being recorded. I’d now like to hand the conference over to your f ...

Atossa Therapeutics, Inc. (NASDAQ:ATOS) Q4 2024 Earnings Conference Call March 25, 2025 8:30 AM ET Company Participants Michael Parks - VP of Investor and Public Relations Steven Quay - President and CEO Heather Rees - CFO Conference Call Participants Emily Bodnar - H.C. Wainwright Edward Woo - Ascendiant Capital Operator Good morning, everyone, and welcome to the Atossa Therapeutics Fourth Quarter and Full Year 2024 Earnings Conference Call. My name is Joelle, and I will be your conference operator today. ...

Financial Performance and Key Metrics - The company generated net revenue of $86.7 million for the full-year 2024, representing growth of 33% year-over-year [7] - Adjusted EBITDA for 2024 was $2.7 million, an increase of $2.6 million compared to 2023 [8] - As of December 31, 2024, the company had $15.9 million in cash and $24.5 million available for future borrowings [9] Business Segment Performance - In the Sanara Surgical segment, net revenue increased by 39% year-over-year to $76.1 million, while bone fusion products saw a 6% increase to $10.5 million [7] - The Tissue Health Plus segment continued to incur losses as investments were made in preparation for commercialization [8][9] - Fourth quarter net revenue for the Sanara Surgical segment was $23.5 million, a 56% increase year-over-year [15] Market Data and Key Metrics - The company expanded its distributor network to over 350 partners by year-end 2024, up from more than 250 in 2023 [18] - Products were sold in over 1,300 facilities by year-end 2024, an increase from over 1,000 in 2023 [21] Company Strategy and Industry Competition - The company is focused on empowering physicians to improve patient outcomes while reducing healthcare costs, aiming for long-term growth and shareholder value [12] - A strategic partnership with Biomimetic Innovations was announced, which includes exclusive rights to market innovative products in the U.S. [29] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to enhance sales coverage and market penetration in 2025 [12] - The company plans to launch its first pilot program in the Tissue Health Plus segment during the second quarter of 2025 [27] Other Important Information - The company submitted 11 provisional patent applications in 2024, covering innovations in antimicrobial technologies and hydrolyzed collagen [11] - The company amended the terms of its CRG term loan to provide more flexibility for future borrowings [44] Q&A Session Summary Question: What is the game plan for ChemoMouthpiece in 2025? - Management indicated that the ChemoMouthpiece is being introduced to the market, with health economics and clinical study results expected soon [50][51] Question: How will success be measured for the THP pilot launch? - Success will be measured by the integration with the pilot customer's systems and the standardization of clinical workflows [56] Question: What business development efforts are in place beyond the initial pilot? - Significant efforts have been made in commercial development, including creating a value-based pricing model and recruiting a sales team [66]

Financial Data and Key Metrics Changes - The company achieved a year-over-year top-line growth of 11% to RMB189.2 million for the full year 2024, driven by strategic market expansion and new contract acquisitions [8] - Net revenues for Q4 2024 were RMB36.6 million, reflecting a 23% decrease from the same quarter last year, primarily due to a reduction in revenues from district-level flagship projects [9][30] - Net loss on a GAAP basis for Q4 2024 was RMB63.7 million, a decrease of RMB35.2 million year-on-year from RMB98.4 million in Q4 2023 [27][32] - Adjusted net loss non-GAAP for Q4 2024 was RMB40.1 million, a decrease of RMB51.0 million year-on-year from RMB81.8 million in Q4 2023 [27][33] - Gross margin for Q4 2024 was 33.6%, down from 43.4% in Q4 2023, mainly due to a lower-margin legacy project [28] Business Line Data and Key Metrics Changes - The SaaS subscription business model showed three-digit growth compared to the same quarter last year, supported by strong retention rates and multi-year subscription renewals [9] - The school-based subscription model experienced rapid growth with triple-digit growth in the number of newly subscribed students year-over-year [14] - More than 90% of customers whose contracts were subject to renewal chose to continue their subscriptions, with some expanding their coverage [15] Market Data and Key Metrics Changes - The company has continued to win teaching and learning SaaS projects, demonstrating strong customer stickiness and expanding services to more schools [12][13] - The shift towards a higher proportion of contracts under the SaaS subscription model requires longer periods for revenue recognition, impacting short-term revenue figures [30] Company Strategy and Development Direction - The company is focused on advancing educational digitalization and enhancing learning experiences through AI-driven solutions [35] - There is a commitment to strengthen core business operations while exploring new opportunities through innovation and sustained growth [35] - The integration of AI into product offerings aims to optimize teaching practices and improve learning outcomes [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong pipeline of AI-enhanced products and a customer-centric roadmap, positioning the company for sustainable growth [11] - The company is committed to enhancing customer satisfaction through innovative product offerings and operational agility [18][17] Other Important Information - As of December 31, 2024, the company had cash reserves of RMB359.3 million [29] - Total operating expenses for Q4 2024 were RMB81.4 million, a year-over-year decrease of 33.8% [32] Q&A Session Summary Question: No questions were raised during the Q&A session - There were no questions from participants during the Q&A session [36]

X4 Pharmaceuticals (XFOR) Q4 2024 Earnings Call March 25, 2025 08:30 AM ET Company Participants Dan Ferry - Managing DirectorPaula Ragan - Founder, President & CEOAdam Mostafa - CFOChristophe Arbet-Engels - Chief Medical OfficerMark Baldry - Chief Commercial OfficerAyan Hussein - Equity Research AssociateDouglas Macpherson - Equity Research Associate Conference Call Participants Stephen Willey - AnalystDavid Bautz - Senior Analyst Operator Greetings and welcome to the X4 Pharmaceuticals Fourth Quarter and F ...

Kezar Life Sciences (KZR) Q4 2024 Earnings Call March 25, 2025 08:00 AM ET Company Participants Christopher Kirk - CEO & Co-FounderCraig Lammert - Associate Professor of MedicineGideon Hirschfield - ProfessorMatt Phipps - Group Head - Biotechnology Conference Call Participants Divya Rao - AnalystMaury Raycroft - Equity Research AnalystDerek Archila - AnalystMitchell Kapoor - Director, Senior Biotechnology Analyst Operator Good day, everyone. My name is Shell, and I will be your conference operator today. At ...

Canadian Solar (CSIQ) Q4 2024 Earnings Call March 25, 2025 08:00 AM ET Company Participants Wina Huang - Head of Investor RelationsShawn (Xiaohua) Qu - President, Chairman and Chief Executive OfficerYan Zhuang - Director and President of CSI SolarIsmael Arias - Chief Executive Officer of Recurrent EnergyXinbo Zhu - Senior VP & CFOColin Rusch - Managing Director - Head of Sustainable Growth & Resource Optimization ResearchMaheep Mandloi - DirectorVikram Bagri - Member Board of DirectorsBrian Lee - Vice Presi ...

Financial Data and Key Metrics Changes - For Q4 2024, revenue totaled $3.04 million, an increase of 181% compared to $1.08 million for Q4 2023 [26] - Full year 2024 revenue reached $8.69 million, up 112% from $4.09 million in 2023 [26] - Gross profit for Q4 2024 was $1.13 million, compared to $0.09 million for Q4 2023, with a gross profit margin of 37.2% [28] - Net loss for Q4 2024 was $0.85 million, an improvement from a net loss of $1.1 million in Q4 2023 [31] Business Line Data and Key Metrics Changes - The growth in revenue was primarily driven by branded consumer products and contract manufacturing [27] - Contract manufacturing saw increased demand from existing customers and new partnerships, notably with Cintas and Owens & Minor [12] - The consumer products segment expanded significantly, with brands like Medagel, Kenkoderm, and Silly George contributing to growth [18] Market Data and Key Metrics Changes - The partnership with Cintas is expected to enhance brand awareness and revenue growth for SilverSeal [14] - The company anticipates a healthy pipeline of potential new customers for 2025, indicating strong market demand [14] Company Strategy and Development Direction - The company aims to continue driving innovation and growth across key business segments, focusing on long-term shareholder value [24] - NEXGEL plans to expand its product offerings in 2025, including new products under the Medagel and Kenkoderm brands [18][19] - The company is strategically managing R&D exploration to ensure high ROI and alignment with its vision [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving positive adjusted EBITDA in 2025, with expectations of continued revenue growth [37] - The company expects Q1 2025 revenue to be at least $2.75 million, with a target of at least $13 million for the full year [23] - Management highlighted the importance of partnerships and new product launches in driving future growth [24] Other Important Information - The company had a cash balance of approximately $1.81 million as of December 31, 2024 [33] - NEXGEL has 7,654,038 shares of common stock outstanding as of March 24, 2025 [33] Q&A Session Summary Question: Guidance on adjusted EBITDA and timeline to reach break-even - Management indicated that they expect to improve adjusted EBITDA in Q1 2025 and anticipate significant growth in Q2 as new customers come on board [37] Question: Details on the pipeline of new customers and industries - Management mentioned having four large opportunities progressing well, with varying timelines for onboarding and market entry [39] Question: Market opportunity for laser hair removal and promotional strategy - The company is partnering with Innovative Optics to leverage their relationships in the laser hair removal market, with plans to start selling products around mid-year 2025 [42][46] Question: Update on AbbVie Acoustic device launch - Management confirmed that they are on schedule to ship products to AbbVie in Q2 2025, with initial orders being received in Q1 [48]

Financial Data and Key Metrics Changes - Total revenue increased by 38% to $7.8 million, up from $5.6 million in 2023 [20] - Gross margin improved to 55% for the full year compared to 34% in 2023, reflecting a 125% year-over-year improvement [21] - Operating loss decreased to $3.8 million compared to $7.4 million in 2023, a reduction of 49% [24] - Net loss for the year was $4.4 million compared to $6.3 million in 2023, with loss per share shrinking by 67% to $0.85 [24] Business Line Data and Key Metrics Changes - New orders in the federal/military sector grew by 150% year-over-year [10] - Software and services new orders tripled, driven by a large North American telecom customer [11] - The GigaLine 900 solution family gained significant traction with numerous trials and installations underway [11] Market Data and Key Metrics Changes - North American revenues increased by 134%, representing a larger portion of total business [20] - Major deployments secured in smart city and transportation sectors, including cities like Washington, DC, and Seattle [12] Company Strategy and Development Direction - The company is prioritizing three strategic initiatives for 2025: introducing MetaShield into the installed base, strengthening go-to-market execution, and focusing on operational efficiency [15][18] - The introduction of MetaShield aims to generate recurring revenue through subscriptions and integrated network management software [15] - The company is positioned to capitalize on major infrastructure projects, particularly in federal and military markets [10][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth, particularly in federal, city transportation, and IoT markets, which are valued in the tens of billions [38] - The company is optimistic about its growth prospects, emphasizing the importance of strategic partnerships and market penetration [30] - Management acknowledged the challenges of predicting revenue due to the lumpiness of orders but expects growth to stabilize over time [36] Other Important Information - The company has nearly repaid all outstanding debt, with only a $774,000 bank credit line remaining [25] - Cash and cash equivalents stood at $2.3 million at year-end, down from $5.5 million in 2023, primarily due to debt repayment [26] - The company is evaluating selective debt facilities to support growth initiatives while minimizing equity dilution [27] Q&A Session Summary Question: What caused the sequential decline in revenue from Q3 to Q4? - Management explained that the business is characterized by lumpiness in orders, making it difficult to predict exact timing for larger orders and shipments [36] Question: Are expenses stable, or will they increase with growth? - Management indicated that while expenses have been decreasing, there will be controlled increases in sales and marketing to drive growth [42][44] Question: How is the company positioned to benefit from military spending in Europe? - Management clarified that their focus is on US military sales, treating international deployments similarly to domestic ones [47] Question: Is there a concern about a reverse stock split due to low share price? - Management stated there are no current plans for a reverse split and expressed confidence in future growth to improve share value [56] Question: What is the future outlook for the company financially and business-wise? - Management highlighted ongoing efforts in federal markets, IoT, and MDU markets, with expectations for growth but no guarantees of profitability in 2025 [108]

Financial Data and Key Metrics Changes - In Q4, the company reported pharma services revenue of $1.5 million with a gross margin of 40%, exceeding expectations [27][28] - The outgoing cash flow in Q4 was $5.6 million, favorable to the targeted spend of $6 million, finishing the year with $10 million in cash [33][34] - The company successfully raised an additional $29 million in February, with major shareholders leading the funding round [35][36] Business Line Data and Key Metrics Changes - The company launched GraftAssure, a kidney transplant test, which has been valuable for IVD product development [5][11] - The company expects to have 20 transplant centers signed up by the end of 2025, translating to approximately $20 million in future annual recurring revenue [21] Market Data and Key Metrics Changes - The company achieved Medicare claims expansion to monitor high-risk transplant patients, potentially expanding the total addressable market by up to 20% [10] - The rollout of iota this summer is expected to increase the use of more marginal organs, contributing to market expansion over the next five years [11] Company Strategy and Development Direction - The company is focused on finalizing assay design, launching clinical trials, and submitting data packages to the FDA, with a projected timeline for market approval by mid-2026 [18] - The company aims to deepen relationships with potential strategic partners through its pharma services business, which provides non-dilutive capital [28][30] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about 2025, emphasizing the importance of regulatory submissions and clinical trials [18] - The company is monitoring macro uncertainties around federal government funding that could affect timelines [15][17] Other Important Information - The company is committed to disciplined cash management, targeting about $6 million per quarter in cash burn for 2025 [39][38] - The company is focused on operational efficiency, which has allowed it to maintain a strong cash position [34] Q&A Session Questions and Answers Question: What is the regulatory pathway and timing for FDA approval? - The company is budgeting seven months for the de novo pathway, as there is no clear predicate device for donor-derived cell-free DNA [44] Question: How many centers are required for the FDA package? - A minimum of three sites is required for reproducibility work, with expectations to double that in the US and include centers in Europe [46][49] Question: Will there be material revenue before FDA clearance? - The company does not project any material revenue from the RUO product this year, with significant revenue expected post-FDA clearance [57] Question: What support will Bio-Rad provide for clinical trials? - Bio-Rad is expected to provide support for instruments and consumables, offsetting a significant portion of trial expenses [60] Question: How will the company drive broader utilization post-FDA approval? - The company plans to bridge reimbursement from its service lab to the kitted product, expecting faster adoption within the MolDX jurisdiction [68] Question: How easy is the offering to integrate into existing workflows? - The workflow is streamlined, requiring only two pipetting steps, making it easy for existing labs to adopt [75]